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If a company issues 2,500 shares of $5 par value common stock at a market...

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Question

Accounting

If a company issues 2,500 shares of $5 par value common stock at a market price of $32 per share, which of the following is the correct balance sheet effect?

Group of answer choices

Increase cash $80,000, increase common stock $12,500 and increase additional paid in capital $67,500

Increase cash $80,000, increase common stock $40,000 and increase additional paid in capital $40,000

Increase cash $80,000, increase common stock $80,000

Increase cash $80,000, increase additional paid in capital $80,000

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